Metlock Consulting uses the cash basis of accounting and a fiscal year ending December 31. Beginning on September 1, 2021, Metlock performs services for Grouper International at a rate of $4,500 per month. On February 12, 2022, Grouper pays Metlock $22,500 in full for all services rendered from September 1, 2021 to January 31, 2022. Metlock understated revenues by on its 2021 income statement (if he were to use the accrual basis of accounting).

Which of the following pairs is most similar to each other?

In its 2016 annual report, caterpillar inc. reported the following (in millions): 2016 2015 sales $38,537 $47,011 cost of goods sold 28,309 33,546 as a percentage of sales, did caterpillar's gross profit increase or decrease during 2016? select one: a. gross profit increased from 26.8% to 28.6% b. gross profit decreased from 28.6% to 26.5% c. gross profit increased from 71.4% to 73.2% d. gross profit decreased from 73.2% to 71.4% e. there is not enough information to answer the question.

If jobs have been undercosted due to underallocation of manufacturing overhead, then cost of goods sold (cogs) is too low and which of the following corrections must be made? a. decrease cogs for double the amount of the underallocation b. increase cogs for double the amount of the underallocation c. decrease cogs for the amount of the underallocation d. increase cogs for the amount of the underallocation